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Moxie help nurses open medspas by allow them with most of the tool they want to turn tail their businesses , from billing software program and marketing services to discounted supplying . The startup has raised a $ 10 million Series B lead by existing investor Lachy Groom , a solo VC , with participation from SignalFire .
The round arrive only a class after the inauguration announce its$15.7 million Series A , which valuesMoxieat nearly triple its late evaluation .
“ Our business concern grew more than 4x over the last yr , ” say Moxie ’s founder and CEO Dan Friedman . “ We still had more than 75 % of the capital from Series A , so there was no need for cash . But we also have a really bragging agendum and a large vision , and the [ new funding ] helps us double down . ”
Medspas — treatment facilities that offer minimally invasive aesthetic procedures such as Botox , specialized facials , and laser treatment — have beenincreasing in popularity . Because most state call for that registered nurse administer these procedure , the growing industry has attracted healthcare workers , many of whomwere burned outat their hospital job , to launch their own medspa businesses .
Friedman , who previously co - found Thinkful , an online coding business , was looking for his next entrepreneurial bit after sell his educational troupe toChegg for $ 100 million . Friedman decided to commence Moxie after learning from a fellowship friend about the complexities and high costs ask in found a medspa . He developed a “ business - in - a - box ” solution that allows nursemaid to have their clinics ready for military operation at a fraction of the fourth dimension and cost compared to if they do it themselves .
“ We make it easy , faster , and cheaper to launch a medspa , ” Friedman said . “ Then we support the growth of the practice with line of work software program , including payments , integrated buy now , compensate later , marketing tooling , and a cortege of complaisance pecker . ”
The inauguration also helps medspa possessor economise on their most meaning disbursement , supply , by partnering with major suppliers to negociate bulk discount . This enable Moxie ’s clients to extend lower pricing and easily compete with major medspa chains , such as Laser Away and those operated byprivate equity - backedmanagement company .
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Moxie also couple spa owners with success coaches who guide business concern growth . The company makes money by charge its customer a portion of full sales , which resemble a enfranchisement modelling in many room , but there is one key differentiator : Moxie is n’t certify its brand . “ Our clients are not 250 medspas with ‘ Moxie ’ on the door , ” Friedman said . “ These are 250 medspas with their entrepreneur ’ name on the door . ”
Other VC - backed companies that extend medspa service include Addition and Greycroft - back Ever / Body and Botox provider Peachy . But since Moxie does n’t run its own clinic , Friedman said he does n’t view these startups as direct competition .
“ It ’s a cock-a-hoop category with more than $ 15 billion a year spent on medspas , ” Friedman said . “ They can succeed , and we can succeed . ”
